To get an effective debt recovery, having a proper debt recovery process is essential. A reasonable and plain process helps to identify the tasks that need to be done and also improve the work efficiency, thereby having the work done faster, and the success rate of debt collection increases.
Over 10 years of operation, PL & Partners has acquired many years of experience in legal consulting in general and debt recovery in particular. PL & Partners has successfully handled hundreds of cases, whereby accumulated a lot of experience to establish reasonable processes to collect debt efficiently.
Of course, subject to each case and each client, we are going to have our adjustments. However, a standard procedure can be outlined as follows:
STEP 1: RECEIVE THE REQUEST FOR DEBT RECOVERY.
If businesses, organizations, and individuals are facing bad debts, please contact us immediately:
PL AND PARTNERS LAW FIRM
Headquarters: 46th Floor, Bitexco Financial Tower, No. 2 Hai Trieu, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam
Office: Lot 1.16 Viva Riverside, 1472 Vo Van Kiet, Ward 3, District 6, HCMC
We are willing to listen to your information and feedback and can guide you types of documents to be prepared.
STEP 2: RECEIVE AND ANALYZE DOCUMENTS.
In this step, clients will provide PL & Partners with all documents related to the debt: For businesses, they can be contracts, invoices, goods delivery notes, delivery receipts, acceptance records, and acknowledgment of debt. For individuals, they can be loan documents, purchase and sale documents, acknowledgment of debt, promissory notes, etc.
Note: Clients only need to provide a copy of such documents, the original is still kept by the clients.
After receiving sufficient documents, PL & Partners is going to analyze and verify the legality and the basis of debt recovery of each case. If the profile is not completed, we will guide the clients to collect papers, documents, and evidence to take advantage of them, thereby proposing proper solutions. Entrusted by the client, we will enter into a debt recovery service contract and carry out the work under the client’s authorization.
STEP 3: MAKE DEBT RECOVERY STRATEGY AND PLAN.
Subject to the nature of the case and the object of debt collection, PL & Partners will devise a debt recovery strategy. A detailed plan will then be drawn up to carry out the work.
At PL & Partners, we perform debt collection based on the fastest, most efficient, and least expensive debt recovery criteria, helping return bad debts legally and ensure the legitimate interests of clients without resorting to other risky measures.
PL & Partners’ lawyer will take carefully into account the legal needs, reputation, finance, advantages and commerciality of clients from time to time prior to offering a debt recovery strategy to achieve the highest success rate and the lowest level of risk.
STEP 4: ACCESS TO NEGOTIATION AND PUT A COMPREHENSIVE PRESSURE.
PL & Partners will be exposed to debtors in a series of different ways. During this time, if the debtor is willing to cooperate for debt repayment, negotiation and conciliation can be applied to find a common voice between the parties. If necessary, we will propose debt rescheduling, moratorium, or other methods to help clients collect debt in the most effective manner.
On the contrary, during our approach, if the debtor shows an unwillingness to repay the debt, comprehensive pressure shall be imposed to claim the legitimate interests of the client.
In fact, most of the debts are recovered at this stage.
STEP 5: FILE A LAWSUIT.
Where the debtor intentionally fails to fulfill the debt repayment obligation, PL & Partners will initiate a lawsuit to the competent people’s court. We will prepare documents, draft petitions, file a lawsuit, and appoint lawyers and professional representatives to work, on behalf of clients, with authorities and participate in proceedings at people’s courts at all levels.
After a decision or a judgment has taken effect, if the debtor voluntarily returns the amount of debt, PL & Partners will continue to collect debt for the client. If the debtor keeps not paying, we will work, on behalf of the client, with the judgment enforcement agency.
The debt recovery process at PL has been delivered to you. As mentioned above, this is just the most general and basic process. When a client has a need to collect debt, we will have more specific discussions to come up with individual adjustments for each client, thereby entering into a formal debt recovery service contract with full legitimate rights and obligations of both parties.
Should you need to recover any debt, please contact hotline: 093.1111.060 for support.
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